Independent Banker - January 2020 - 34

PORTFOLIO
Southern New Mexico is seeing
growth thanks to incoming
retirees and expanding local
employers, says Kiel Hoffman
of Pioneer Bank.
What's ahead for lending?
Lending
Varying interest rates and a mixed outlook
for the economy kept community bankers
on their toes over the past year, but what can they expect
lending to look like this year? By Beth Mattson-Teig
ommunity bankers are trying to read the tea leaves
on expectations for lending activity in the coming year
in the wake of a sharp drop in interest rates over the past
year, along with mixed economic signals. Many bankers are
hoping that the momentum they built in the second half of
2019 will carry over into 2020.
Low rates fuel borrower demand
The low interest-rate environment continues to stoke
borrower appetite for capital across all types of loan
products. The Federal Reserve cut the federal funds rate by
25 basis points in July 2019, for a second time in September
and for a third time at the end of October.
During its final gathering of the year in December, the
34 Q ICBA Independent Banker Q January 2020
C
Federal Open Market Committee held rates steady. Many
economists have predicted that the Fed is most likely to hold
rates where they're at throughout 2020 due to the upcoming
presidential election.
" The Fed maybe hiked up interest rates a little too fast
and that slowed things down. So, the outlook is good now
that rates are coming back down, " says Joshua H. Prejean,
senior vice president of loan production at $239 million-asset
Bank of Zachary in Zachary, La. " When rates were on the
rise, the outlook was less clear, because we didn't know what
that was going to do to the buying power of consumers. "
Falling interest rates did help push some borrowers off
the fence in 2019. " Certainly, the low rates do help to spur
some people to activity, " says Anthony F. DeSenzo, head of
commercial lending at nearly $2 billion-asset SB One Bank
in Paramus, N.J. The community bank saw generally steady
lending volume last year, along with increased interest in
refinance requests in the second half of 2019 that likely will
spill over into 2020.

Independent Banker - January 2020

Table of Contents for the Digital Edition of Independent Banker - January 2020

Table of Contents
Independent Banker - January 2020 - Intro
Independent Banker - January 2020 - Cover1
Independent Banker - January 2020 - Cover2
Independent Banker - January 2020 - Table of Contents
Independent Banker - January 2020 - 2
Independent Banker - January 2020 - 3
Independent Banker - January 2020 - 4
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Independent Banker - January 2020 - Cover4
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